Form 4: Samsara CFO Dominic Phillips Disposes of Shares to Cover Tax Obligations

Dominic Phillips, CFO of Samsara Inc., sold shares of Class A Common Stock to cover tax withholding obligations related to the settlement of restricted stock units.

Summary

• On June 17, 2024, Dominic Phillips, the CFO of Samsara Inc., disposed of 60,630 shares of Class A Common Stock at a weighted average price of $27.5303.
• He also disposed of 4,939 shares of Class A Common Stock at a weighted average price of $28.3392.
• These transactions were non-discretionary and intended to cover tax withholding obligations related to the settlement of restricted stock units (RSUs).
• Phillips transferred 62,094 shares of Class A Common Stock to The Phillips Family Trust dated 5/9/2013, of which he and his spouse serve as trustees.
• Following these transactions, Phillips directly owns 1,010,326 shares of Class A Common Stock and indirectly owns 1,123,910 shares through the Phillips Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions related to executive compensation and tax obligations. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive compensation often includes stock options and restricted stock units (RSUs). When these RSUs vest, they are considered income and are subject to taxes. To cover these tax obligations, executives often sell a portion of the shares they receive upon vesting.

Related Party Transactions

• Transfer of 62,094 shares of Class A Common Stock from Dominic Phillips to The Phillips Family Trust, of which he and his spouse serve as trustees.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is generally not considered a major event.

Key Dates